Senior Living News Wire

Metlife Inc. (NYSE:MET) said on Thursday that it was discontinuing the sale of new Long-Term Care Insurance (LTCI) business after an extensive review of its business.  The company will stop new applications for LTCI as of December 30, 2010 and will stop new enrollments into existing group and multi-life LTCI plans.  The LTCI market has seen a number of insurers exit the market in recent years as policy holders are living longer and are generating more claims than initially anticipated.  As part of the announcement, MetLife stressed that current insured individuals can continue to make coverage changes per the terms of their policy or certificate, including inflation protection offers and requests to increase or decrease coverage.

“MetLife remains committed to our current LTCI policyholders and certificateholders and will continue to ensure that they receive quality service, particularly when needed most – at time of claim,” says Jodi Anatole, vice president, Long-Term Care Products, for MetLife. “While this is a difficult decision, the financial challenges facing the LTCI industry in the current environment are well known.”

Sonamba, a new monitoring system by pomdevices, recently made its debut as a next generation personal monitoring device for seniors living independently.  The standalone system encompasses an all inclusive home monitoring system that allows interaction between the caregiver and the senior.  The systems’s base station operates from a 7 inch LCD display that provides an emergency response system, medication reminders, games, a digital photo frame and personal information systems including calendar, email and text messaging built into one device that integrates with sensors.  The sensors can be easily configured to monitor activities of daily living and provide updates to caregivers via an Iphone application.  The device operates through a cellular modem and costs $459 with a monthly subscription charge of $39 a month.

The Sonamba was named as a finalist for the Consumer Electronics Association (CEA)^® third annual i-stage competition, a technology event featuring the most innovative consumer technology products.

Nationwide Health Properties, Inc. (NYSE: NHP) released its operating results this week for the third quarter ended September 30, 2010 that showed revenues of $114 million, up almost 18% from the same period in 2009.  NHP’s profit for Q3 was $39.9 million or 31 cents per share and its Funds From Operations (FFO) was 59 cents per share.  The company increased its outlook for FFO to $2.27 to $2.28 a share from $2.23 to $2.25.

"Our third quarter results reflect year to date investments of $676 million, and our pipeline is robust. Compared to the third quarter of 2009, revenue is up 17.6%, adjusted diluted FFO per share is up 5.4% and adjusted diluted FAD per share is up 5.5%. As a result, and for the third consecutive quarter, NHP’s Board of Directors increased our quarterly dividend by $0.01 to $0.47 per share," commented Douglas M. Pasquale, NHP’s Chairman and Chief Executive Officer.

NHP 8-K for Q3 2010

Caregiving is a growing epidemic but a new study shows that caring for veterans presents additional stress above and beyond what is experienced by typical family caregivers.  The study, released today by the National Alliance for Caregiving (NAC) and funded by United Health Foundation, finds that family caregivers of veterans face a higher burden of care, both in intensity and duration.

“The family caregivers who serve our country’s veterans are making huge sacrifices in terms of their own health, careers and home life,” said Reed Tuckson, M.D., United Health Foundation board member and executive vice president and chief of medical affairs, UnitedHealth Group. “The data indicate that these ‘homefront heroes’ are proud to serve in the role of caregiver for their loved ones. Yet it is incumbent upon all of us to help them find support and solutions to preserve their own health and well being, as well as that of the veteran. It is important that relatives, friends, and neighbors seek out opportunities to provide respite and other supportive services to these caregivers.”

The Caregivers of Veterans – Serving on the Homefront study finds that women represent ninety six percent of caregivers for veterans compared to the national average of 65%.  A contributing factor to these caregivers’ stress and burden is the veteran’s health conditions, which often include post-traumatic stress disorder (PTSD) (60 percent), mental health conditions such as depression or anxiety (70 percent), and traumatic brain injury (TBI) (29 percent).   Caregivers stated that they avoided stressful situations to avoiding triggering anxiety or anitsocial behavior in the veteran they were caring for in the survey.

“The care of a veteran is unique, and in many ways these caregivers are facing even greater challenges than other family caregivers,” said Gail Hunt, president and CEO of the National Alliance for Caregiving. “This report serves as a reminder that we need to come together to make sure caregivers have adequate resources and support.”

For the full findings, visit:  Caregivers of Veterans – Serving on the Homefront

Holiday Retirement recently awarded three seniors with free rent for life following its national Swing into Spring promotion.  All seniors who toured any one of the more than 300 Holiday Retirement communities from April 1, 2010 to June 30, 2010 were entered to win. The winners were Ellen Grunewald, 81, of Salem, Ore., Ethel Kaye, 87, of San Luis Obispo, Calif., and Tim Sherman, 64, of Palatine, Ill.

The all-inclusive rent at Holiday Retirement communities covers three chef-prepared meals served daily, weekly housekeeping and linen service, transportation, an exclusive travel program, award-winning activities and events, and all other amenities.

"It’s almost too much to believe," Grunewald said. "It was a real shock. It means I don’t have to worry about money. This drawing has made everything so simple in my life."

Grunewald, who toured Madrona Hills in Salem, Ore., was notified of her winnings by phone on Sunday, Oct. 31.

"When they called me to tell me I won, I was speechless," Grunewald said. "I just love everything about the community."

Kaye had already moved into Las Brisas in June and learned during a community meeting that she won the drawing.

"They had my daughter come in the back door during the meeting," Kaye said. "All of a sudden she was sitting next to me. I did not grasp what was going on at first, but when I finally did, I was walking on Cloud 9. Winning this means my children won’t have to worry about me for the rest of their lives. It’s absolutely unbelievable."

She added: "I’m having the time of my life. I love it here and everyone has been wonderful."

Sherman toured Tamarack retirement community on April 17 with his wife Susan.

"We thought we would go take a look because we figured we were about two years away from retirement," Tim said. "At the end of our tour, they asked if we were interested in entering to win free rent for life and we said, ‘Why not?’ We didn’t give it a second thought after that."

Then, last week, Tamarack manager Fred Tillich arrived at the couple’s house with the news.

"I figured it was another solicitor during election season at the door," Tim said. "When he said we won, I said, ‘You’ve got to be kidding me.’ This is amazing because we’ve been wondering what we are going to do for retirement. We really loved the community, the amenities, and all the extra activities that are available."

src:  Holiday Retirement PR